GXO Logistics Shares Move Higher After JPMorgan Sees 27% Upside
- JPMorgan analyst Brian Ossenbeck initiated coverage of GXO Logistics Inc (NYSE:GXO) with an Overweight rating and a price target of $107, implying an upside of 27%.
- Ossenbeck says the company is a "unique pure-play" on contract logistics.
- He Adds that GXO is well suited to take share in this growing market as the largest pure-play provider with an international presence and "strong balance sheet needed to help global brands solve complex supply chain issues.
- Recently, the company deployed nearly 400 state-of-the-art display wearable scanners in warehouses in the UK, France, and the Netherlands, Italy, and Spain.
- Related Content: GXO Logistics, A Spinoff Of XPO Logistics, Begins Trading
- Price Action: GXO shares are trading higher by 6.24% at $84.475 on the last check Thursday.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.